South-Eastern Asia: Combined Refrigerator-Freezer Market 2025

Combined Refrigerator-Freezer Market Size in South-Eastern Asia

The Southeast Asian combined refrigerator-freezer market expanded rapidly to $X in 2022, growing by 8.4% against the previous year. The market value increased at an average annual rate of +1.5% from 2012 to 2022; however, the trend pattern remained consistent, with somewhat noticeable fluctuations being observed in certain years. As a result, consumption reached the peak level of $X. From 2021 to 2022, the growth of the market remained at a lower figure.

Combined Refrigerator-Freezer Production in South-Eastern Asia

In value terms, combined refrigerator-freezer production expanded notably to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.2% from 2012 to 2022; however, the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2020 when the production volume increased by 32% against the previous year. As a result, production attained the peak level of $X. From 2021 to 2022, production growth remained at a somewhat lower figure.

Combined Refrigerator-Freezer Exports

Exports in South-Eastern Asia

After three years of growth, shipments abroad of combined refrigerators-freezers decreased by -14.6% to X units in 2022. Over the period under review, exports, however, posted a remarkable increase. The most prominent rate of growth was recorded in 2020 when exports increased by 77% against the previous year. The volume of export peaked at X units in 2021, and then contracted in the following year.

In value terms, combined refrigerator-freezer exports fell to $X in 2022. The total export value increased at an average annual rate of +2.5% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2020 when exports increased by 22% against the previous year. The level of export peaked at $X in 2021, and then dropped in the following year.

Exports by Country

Thailand was the major exporting country with an export of around X units, which reached 88% of total exports. It was distantly followed by Indonesia (X units), comprising an 11% share of total exports.

Thailand was also the fastest-growing in terms of the combined refrigerators-freezers exports, with a CAGR of +11.2% from 2012 to 2022. Indonesia experienced a relatively flat trend pattern. While the share of Thailand (+18 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Indonesia (-15.9 p.p.) displayed negative dynamics.

In value terms, Thailand ($X) remains the largest combined refrigerator-freezer supplier in South-Eastern Asia, comprising 71% of total exports. The second position in the ranking was held by Indonesia ($X), with a 26% share of total exports.

In Thailand, combined refrigerator-freezer exports expanded at an average annual rate of +2.7% over the period from 2012-2022.

Export Prices by Country

The export price in South-Eastern Asia stood at $X per unit in 2022, therefore, remained relatively stable against the previous year. Over the period under review, the export price, however, showed a abrupt descent. The most prominent rate of growth was recorded in 2018 when the export price increased by 17% against the previous year. As a result, the export price reached the peak level of $X per unit. From 2019 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Indonesia ($X per unit), while Thailand totaled $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (+3.0%).

Combined Refrigerator-Freezer Imports

Imports in South-Eastern Asia

In 2022, supplies from abroad of combined refrigerators-freezers decreased by -2.8% to X units for the first time since 2014, thus ending a seven-year rising trend. In general, imports, however, recorded a resilient increase. The most prominent rate of growth was recorded in 2017 with an increase of 45% against the previous year. Over the period under review, imports attained the maximum at X units in 2021, and then fell slightly in the following year.

In value terms, combined refrigerator-freezer imports amounted to $X in 2022. Over the period under review, imports, however, saw a resilient expansion. The pace of growth was the most pronounced in 2017 when imports increased by 40% against the previous year. Over the period under review, imports hit record highs in 2022 and are likely to continue growth in the immediate term.

Imports by Country

The Philippines (X units) and Vietnam (X units) were the major importers of combined refrigerators-freezers in 2022, recording approx. 37% and 26% of total imports, respectively. Malaysia (X units) took the next position in the ranking, followed by Thailand (X units) and Indonesia (X units). All these countries together held approx. 28% share of total imports. Singapore (X units) and Cambodia (X units) took a minor share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Cambodia (with a CAGR of +28.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Vietnam ($X), the Philippines ($X) and Indonesia ($X) constituted the countries with the highest levels of imports in 2022, together comprising 69% of total imports. Malaysia, Thailand, Singapore and Cambodia lagged somewhat behind, together comprising a further 29%.

Cambodia, with a CAGR of +25.0%, recorded the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in South-Eastern Asia stood at $X per unit in 2022, rising by 4.6% against the previous year. In general, the import price, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 when the import price increased by 9.6% against the previous year. Over the period under review, import prices reached the maximum at $X per unit in 2013; however, from 2014 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Singapore ($X per unit), while the Philippines ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Singapore (+3.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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